(1) The highway-rail crossing signalization fund is hereby created in the state treasury, in order to promote the public safety and to provide for the payment of the costs of installing, reconstructing, and improving automatic and other safety appliance signals or devices at crossings at grade of public highways or roads over the tracks of any railroad or street railway corporation in this state. None of the moneys in the highway-rail crossing signalization fund shall be used to pay any part of the cost of the installation, reconstruction, or improvement of any such signals or devices at any crossing when any part of such cost will be paid from moneys available under any federal or federal-aid highway act.
For the 2016-17 fiscal year, the sum of two hundred forty thousand dollars is appropriated from the highway users tax fund created in section 43-4-201 (1)(a), C.R.S., to the highway-rail crossing signalization fund as authorized by section 43-4-201 (3)(a)(VI), C.R.S. Pursuant to section 40-2-114 (1)(a)(II), for the 2017-18 fiscal year and for each fiscal year thereafter, the lesser of three percent of the fees collected under section 40-2-113 or an amount of the fees equal to two hundred forty thousand dollars plus a cumulative inflation adjustment of two percent for each fiscal year beginning with the 2017-18 fiscal year is credited to the highway-rail crossing signalization fund. Notwithstanding section 24-36-114 (1), C.R.S., any interest earned on the deposit and investment of moneys in the highway-rail crossing signalization fund shall remain in the fund and shall not be credited or transferred to the general fund or any other fund. Such earned interest moneys are hereby continuously appropriated to the public utilities commission for use for the purposes of the highway-rail crossing signalization fund.
Notwithstanding any other provision of this section, on July 1, 2020, the state treasurer shall transfer one million seven thousand one hundred seventy-six dollars from the highway-rail crossing signalization fund to the general fund.
Source: L. 2003: Entire section added, p. 1701, § 10, effective May 14. L. 2008: Entire section amended, p. 1807, § 34, effective July 1. L. 2016: (2) amended, (SB 16-087), ch. 217, p. 832, § 2, effective June 6. L. 2020: (3) added, (HB 20-1406), ch. 178, p. 814, § 22, effective June 29.